Liberalised Activities

Italian citizens or from other Countries can set up their own business company in San Marino with the aim to carry out numerous so-called “liberalised” activities, including, among others, almost all the service businesses (graphic design, marketing, data processing), production of market goods and services (with the exception of certain categories), expert advice (with the exception of legal, accounting advice, etc.), brokerage and many others…

All commercial concerns (retail stores, food stores, cafes, restaurants, etc.) require that 51% of the shares or corporate rights are owned by the San Marino residents. Products and services delivered through e-commerce are outside the scope of this law.
There are also determinate categories that require an authorisation issued by the State Congress along with some other regulated activites as laid down in the LISF (Law on Companies, Banking, Financial and Insurance Services).

Examples of “liberalised” activities”

Although there isn’t an official list of the activities whose performance provides for specific requirements in terms of residence, authorisation, shareholdings or share capital, we have drawn up a list of some possible corporate purposes that, on the strength of our experience, are permitted to anyone after first verifying that the shareholders and directors satisfy the requirements as laid down in the page “Forms of Companies“.

Such list does not represent the totality of businesses and may vary at any time in accordance with the issuance of new decrees, laws or circulars: any business purpose shall be evaluated based on a detailed legal analysis.

• Data processing, storage and conversion (also in an electronic format)
• Computer programming, software development, Websites, creative and technical graphic design, advertisements, graphics, event management, conferences, advertising and marketing agencies (also online)
• Digital printing and small to large format print service providers, photography imaging laboratory, photographic studio, still life, promotional merchandise and advertising gifts
• manufacturing activies, such as in the field of mechanics, fine mechanics, information technology, technology, transports and automotive, whether they carry out their business within the Republic or in third party facilities
• Production, trading and processing of food products and nutritional supplements
• Development, planning, promotion, marketing, franchising activities and related commerce in specific product sectors with production in house or in third party facilities
• Management of sales force, agents and other services delivered to companies and their representatives (subject to the identification of the sector)
• Expert advice and support to companies and private operators, including financial advise (as long as it does not fall within the scope of banking activities or trust companies)
• E-Commerce of products and services of any type with the exception of a very limited number of categories
• Businesses that distribute their products through telesales, mail orders, on-line, fax and other media with the exception of a very limited number of marketable goods categories
• Business and sales intermediation (with the exception of a very limited number of sectors)
• Educational activities, schools, various courses (with the exception of those aimed to the achievement of legally recognized qualifications or propaedeutic to their achievement, as laid down in Delegated Decree No. 153 dated 30/09/14).